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LFEX European Aquaculture Snapshot to 1st February, 2024
The LFEX Norwegian Exporters Index for Week 5 2024 ended the week up +8.24%, +8.51 NOK to stand at 111.76 NOK (in EUR terms 9.83 / +0.76 / +8.34%) FCA Oslo Week ending Thursday vs previous Thursday.
The NOK rate ended flat at 11.37 to the Euro over the period Thursday to Thursday -0.01 NOK or -0.06%. The Fish Pool future February was reported up +0.1 NOK, +0.09% at 107.2 NOK.
The index jumped up 5.75% on open at a level of 109.00 flat as the market tightened. All sizes increased fairly uniformly. 5/6s pushed on a little Monday and Tuesday opening a further gap between 4/5’s and the overall index tracked up 109.89 and 110.7. The bigger fish gave back a little on Wednesday and all sizes were up on Thursday to see the week out. Availability through less fish harvested, production grade quality, storms affecting harvesting / transport and Chinese demand for bigger fish squeezed pricing higher.
Next week looks to be more of the same to start the week (Friday pricing) ticking up and looking around 114 levels. Sense that prices can soften as the week progresses.
By Comparison – volumes for week 4 ‘24 were significantly down 15,342 vs 16,916 in ‘23. Pricing for Week 6 last year started at 90.70 and ended up at 92.94 with the EURNOK at 10.71.
David Nye’s technical analysis report will be published later next week.
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